Restaurant Bar with
For Sale
$475,000
41573 N Ridge Road Elyria, Elyria, OH 44035
Turnkey restaurant bar sale includes equipment, with two POS systems supporting indoor service and a connected patio setup.
Property Size3,288 SF
Price / SF$144.46
Days on Market54
Property Features for 41573 N Ridge Road Elyria
General Information
Standard status
Active
Size
3,288 SF
Total Parking Spaces
33
Amenities
ON
Public Records
Public
33.00
0.9500
500000.00
No
Vinyl Siding
Building Details
Year Built
1950
Listed By:
Tiffany Mather
(419) 670-7781
Source:
Quality-realty
Added: Jul 14
Changed: Sep 1
Last Checked: Sep 4 at 2:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tiffany Mather
Investment Insights
Based on property information with market context.
This active restaurant bar is being offered for sale with all equipment included. The operation uses two POS systems to track liquor sales, with one for indoor service and one for outdoor ordering tied to the patio. A successful patio setup supports business continuity when the patio is open.
Showings are restricted to mornings from 8:30 a.m. to 10:30 a.m. before the business opens. The seller notes additional income possibilities, including pull tabs and lottery options, with a lottery license required.
The property is located at 41573 N Ridge Road, Elyria, OH 44035. Contact the agent for details and to confirm showing procedures.
Showings are restricted to mornings from 8:30 a.m. to 10:30 a.m. before the business opens. The seller notes additional income possibilities, including pull tabs and lottery options, with a lottery license required.
The property is located at 41573 N Ridge Road, Elyria, OH 44035. Contact the agent for details and to confirm showing procedures.
Key Highlights
- Active successful restaurant bar sale includes all equipment with the purchase
- Two P.O.S. systems for liquor sales: 1 for indoor and 1 connected to the outdoor patio
- Restaurant/bar setup connects indoor service and a patio that can be used when open
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,436
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$708,720
$708.7K
Cap Rate 7%
$506,229
$506.2K
Cap Rate 9%
$393,733
$393.7K
Market Conditions
NOI Build-Up for 3,288 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.3K $15.00/SF
− Vacancy
−$2.1K −$0.63/SF
EGI
$47.2K $14.37/SF
− OpEx
−$11.8K −$3.59/SF
NOI
$35.4K $10.78/SF
Area
Lorain County, OH
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$708,720
Cap Rate 7%
$506,229
Cap Rate 9%
$393,733
Alternative Uses
Best Use
Specialty Retail
$506.2K
$443.0K – $590.6K
NOI $35,436 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$828.6K
$725.0K – $966.7K
NOI $58,000 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
17k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 26%
Family Dollar
Shops & Services
4,575 visits/mo
0.0 miles
U-Haul
Shops & Services
2,953 visits/mo
0.4 miles
Exxon
Shops & Services
2,862 visits/mo
0.3 miles
Marco's Pizza
Dining
2,291 visits/mo
0.1 miles
AutoZone
Shops & Services
2,214 visits/mo
0.1 miles
Demographics for 44035, OH
61,921
Population
29,637
Households
2.1
Avg Household Size
42
Median Age
17%
College-Educated
88%
High-School Grad
47.6 sq mi
ZIP Area
1,301
Density / Sq Mi
$54,362
Median Household Income
$38,493
Median Earnings
$871
Median Rent
$147,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- MAHD House Bar & Grille - Elyria, OH — 41573 N Ridge Rd, Elyria, OH 44035
- Phazes — 2089 N Ridge Rd, Lorain, OH 44055
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey restaurant bar sale includes equipment, with two POS systems supporting indoor service and a connected patio setup.
Where is this bar & pub located?
The property is located at 41573 N Ridge Road Elyria Elyria, OH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Active successful restaurant bar sale includes all equipment with the purchase; Two P.O.S. systems for liquor sales: 1 for indoor and 1 connected to the outdoor patio; Restaurant/bar setup connects indoor service and a patio that can be used when open
